Wednesday, November 4, 2009

Corporate layoffs have all but vanished (5)

I've been showing this chart for quite some time, and it was one of the early indicators of significant improvement in the economy. Big corporate layoff announcements are essentially a thing of the past, according to this tally by the folks at Challenger, Gray & Christmas. While that is not the same as a wave of new hiring, it is the first step on the path to a growing economy and an increase in the number of jobs. The good news just keeps coming, but the market remains highly skeptical. Investors continue to climb walls of worry, and that's what a bull market is all about.


brodero said...

Challenger has a number for hiring plans do you happen to know that number?

Scott Grannis said...

Thanks for bringing that to my attention. The latest figure I see on Bloomberg is 25,000, up from the 10,000 level in Dec. '08. Can't find the October number.